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Jonas Kjellberg shared his inspiring insights and visions on digitalization and the disruptions ahead with OpusCapita customers in the popular Finance Forum in Finland.
UR DELIGHT? simple as stating who or what we are, but I have found that it is surprisingly difficult to get a clear answer to this question in the corporate board rooms.” Back to the banking and financing industry, Kjellberg points out that the emerging financial technology is about to decentralize the situation. “Banking today is totally centralized. With blockchain technology, everyone will be able to participate. The impacts will first be visible in all types of purchasing, and in a few years’ time we will see a lot of new transactions that aren’t even thinkable yet. You could pay me to use my Netflix account for the evening, and I would know that I would get paid.”
EVOLVING BANKS Kjellberg compares the situation the banks are facing now to the change that took place within the telco industry after the release of the first iPhone, and the rise of the apps. The revenues from the value-added
services were not captured in the existing companies, and instead they went to the newcomers of the app industry. The development of financial technol ogy does not necessarily mean that banks are going to vanish, either. According to Kjellberg, it is more a question of evolving. “In general, most established companies are good at cutting cost and optimizing efficiency. After all, it is fairly easy – all you need to do is focus on doing the right things in the right way. And the same goes for the functionalities of a product: they are easier to solve than to truly look into the future, and to innovate into tomorrow’s delight.” “Functionality is of course vital. It is the grounds for customer satisfaction – but don’t forget to look around the corner!” n
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“The digital age is raising the same issues in business-tobusiness interactions that have been afloat for years in the consumer world,” says OpusCapita’s Jesper Ritsmer Stormholt. Read his take on digitalization at opuscapita.com/JSblog
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